Hold on...So I'm taking this class, but I don't know what it means. What IS a statistic?
Glad you asked! A statistic is some number or measurement that we calculate from a sample of people or objects (think an average or a median, etc) that we use to estimate information about the population from which it came. There's no need to take a census every time we want to know some characteristic about the population - that would be very expensive and time consuming. As long as our sample is randomly selected and generally representative we can get pretty good estimates of what is going on in the population. Statistics can therefore be summarized as the study of sample data.
Why Statistics? What's the big deal?
Last Modified on July 4, 2018